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Essar Securities’ promoter cuts stake

02 Jan 2018 Evaluate

Essar Capital, Promoter Company of Essar Securities has sold 74,000 shares or 0.5 per cent stake at Rs 8.18 a share. As of September 30, Essar Capital held 74.92 per cent stake (or 1.07 crore shares) in the company. Of that, 42.86 lakh shares were pledged with financiers. About 24,640 retail investors were holding 14.22 per cent stake in the company.

Earlier in December 2017, Essar Capital sold 95,000 equity shares of Essar Securities, which constitutes 0.67% of equity share capital of Essar Securities.

Essar Securities is primarily engaged in business of providing strategic advisory services and business start-up consultancy services.

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